1. Know your budget to have an insurance.
   Even with USD60 per month you could already have insurance policy including your fixed deposit.
2. Know the insurance protection that you want.
   Are you at risk to involve in an accident at your workplace or at the road? Are you exposed to critical diseases because of your lifestyle and your imbalance diet?
3. Know the amount of insurance protection that you want.
   Is your goal is to get high return of benefits after the first 3 years due time, high return of benefits on your retirement day soon or your protection when you retires early or your mandatory retirement and most importantly your hospitalization cost protection?
4. Know who you should protect.
   Who do you love the most? Youself? Your kids? Or your family?

Contact insurance companies to know what fits you the best.

Here are some ways to improve the fuel economy for vehicle:

Avoid Excessive Idling
If you are to wait for than a minute while you are not in traffic, stop the engine and start it again later. When warming up a cold engine, allow the engine to idle until the temperature gauge pointer comes up to the “C” position. In this position, the engine is sufficiently warm for starting off.

Avoid “Jackrabbit” Starts
Fast starts from lights or stop signs will consume fuel unnecessarily and shorten engine life. Start in a restrained manner.

Avoid Unnecessary Stops
Avoid unnecessary deceleration and stopping. Try to maintain a slow steady speed whenever possible. Slowing down and then accelerating back to speed uses more fuel.

Keep a Steady Cruising Speed
Keep as constant a speed as road and traffic conditions will permit.

Keep Air Cleaner Clean
A dirty air cleaner will cause the carburetor to supply too much fuel to the engine. The result is waste of fuel due to incomplete fuel burning.

Keep Weight to a Minimum
The heavier the load, the more fuel the vehicle consumes. Take out any luggage or cargo when it is not necessary.

Keep Tire Pressure Correct
Underinflation can waste fuel due to increased running resistance of tires. Keep our tires inflated to the correct pressures shown on the label on the driver’s side of your car instrument panel.

These ways ensure fuel economy of your car or vehicle without having to spend your money.

Various technical factors to be the causes, but can be avoided through maintenance

ENGINE which operates smoothly, but suddenly difficult to be started on the next day definitely give problem for those using vehicles to go to office daily.

The difficulty will sure become more critical when the owner involved is already late to go to the office and then engine of the vehicle cannot be turn on.

Among usual damage causes which resulted engine difficult to be started in the morning is lack of electricity because of low battery, contact at its terminal or damaged battery, electrical network or starter switch does not work and damaged at the motor starter.

As concern vehicle owners, there are some measures that can be made to identify their vehicle problem especially involving battery.

The owners only need to press the horn and turn on the headlamps.

If there is no sound or it sound is slow, the condition is caused by weak battery or terminal contact does not work.

Then, check the terminal contact so that it is not covered by white sediment which results the battery does not working properly.

Usually, the sediment happens because of battery water drops and it can be dissipated by pouring hot water on the terminal.

Engine difficult to be started may also occur if the connection of the contact on the terminal is loose.

Loose means that it can be whip by hand and the way to overcome it is by tightening it again using a spanner.

If owner found the battery terminal is too hot especially when the key is turned for a few times, possibly there is imbalance on terminal contact from the battery.

As an early preparation, check the battery water frequently to ensure that its content is always enough; which is when the plates in it are submerged (for flooded cell type).

For those who use semi-permeable separators battery (have two flat lines printed), the water level of the battery must be in between the two lines.

Better, check the battery water content at petrol stations after refueling because it ease the owner to replace or refill the water using distilled water when there is sign the battery is not in good condition.

To women, “car matters” are not interesting things especially because their reason is certainly they are uncomfortable to taint their hands, and the bigger reason is lack of knowledge of car maintenance. All are handed over to the men although some of the things are also not known by men.

So what are the five things? Here they are:

1. Fuel (Petrol / Diesel / NGV)

This is the basic point, needless to think. Even those people who do not own a car knew that fuel must be filled for the car to move. But believe me; I know lots of women who never filled the oil into their own tank and even do not know how. My own friend’s wife, according to him, for more than 10 years, he filled the oil full into his wife’s car tank one day before working day started for her use and one week of work. That what happens every week.

Many private vehicles in my country (Malaysia) use petrol but there are also that use diesel and NGV. Make sure of the right fuel. And make sure that you identify the right fuel pump machine at service station.

Remember, it is important that you know how to open the tank cover and pump the oil into it. May be your one day you are forced to pour oil by your own. Don’t let your car runs out of gas in the middle of the street.

2. Water in Radiator Tank

Open your car hood. Usually hoist switch (hood opener) is under the dashboard on the driver side.

Check before car is started, if not you will scald your hand. Make sure there is enough water. Otherwise, just add tap water.

If you often send car for services, radiator water checking is a basic thing that must be done. Nevertheless, you also have to know to check it on your own; in case there is leakage which caused the water level in radiator to be inadequate. So it is good to check the radiator water at least once a week.

3. Engine Oil, Transmission Oil and Brake Oil

These are vital. Without enough engine oil, engine may become hot and this will damage the engine. Not enough transmission oil may result an immovable car and not enough brake oil may endanger your life because the vehicle cannot be stopped.

For a quite aged car, make sure you check with more often. Even though you may have sent the vehicle for services in each 3 month or each 5,000 km, do not wait up to you new service time and hope the mechanic to check. At least you must know either its oil is enough or not. Engine oil, transmission oil or brake oil that runs out or ebb quite suddenly may signify there are leaks. This are reasons that such examinations are important, and this would be vital for your own safety.

4. Tyre

You know how to change a tyre? Even though you may not need to change a tyre on your own because you have a car service card or you have a husband who will always helps you or friends who could help, it is good if you yourself know how to change a tyre.

Also make sure the right tyre pressure for your car tyres. Learn how to check tyre pressure and how to pump tyre when necessary.

Knowing basic matters on car as such can make a woman feels more confident and safer when driving.

5. Insurance and Road Tax

Before setting forth for your destination make sure your car insurance and your road tax still valid and legal. Look on your windscreen, does your road is tax still not yet ended? In case it already almost to expire; you can start your insurance renewal and your road tax renewal process. Road tax is renewable as early as two month before its expiry date.

Insurance and road tax are compulsory to enable a vehicle is validly used on road. The matter is only done once a year. Some peoples took leave solely to manage road tax and insurance renewal. Get new insurance from the insurance company, and then go to bank to pay road tax and in the evening go again to bank to collect back the road tax which has been completed.

Now everything you can hand on to insurance company on their website to deal. It is really easy, insurance and road tax can be done at once. Usually within only two working days, road tax already arrived to hand, either in office or at home. No need trouble yourself anymore.

This guy here who have all the needle sticking on his body could barely move. The firemen were shouting to him jump off. What should he do? What a crazy situation.

ps: Acupuncture is good, this is only a dramatization.

Leasing Vs Buying

• Ownership
  LEASING: You do not own the vehicle. You get to use it but must return it at the end of the lease unless you choose to buy it.
  BUYING: You own the vehicle and get to keep it at the end of the financing term.
• Vehicle Return
  LEASING: You may return the vehicle at lease-end, pay any end-of-lease costs, and “walk away.”
  BUYING: You may have to sell or trade the vehicle when you decide you want a different vehicle.
• Up-Front Costs
  LEASING: Up-front costs may include the first month’s payment, a refundable security deposit, a capitalized cost reduction (like a down payment), taxes, registration and other fees, and other charges.
  BUYING: Up-front costs include the cash price or a down payment, taxes, registration and other fees, and other charges.
• Early Termination
  LEASING: You are responsible for any early termination charges if you end the lease early.
  BUYING: You are responsible for any pay-off amount if you end the loan early.
• Monthly Payments
  LEASING: Monthly lease payments are usually lower than monthly loan payments because you are paying only for the vehicle’s depreciation during the lease term, plus rent charges (like interest), taxes, and fees.
  BUYING: Monthly loan payments are usually higher than monthly lease payments because you are paying for the entire purchase price of the vehicle, plus interest and other finance charges, taxes, and fees.
• Future Value
  LEASING: The lessor has the risk of the future market value of the vehicle.
  BUYING: You have the risk of the vehicle’s market value when you trade or sell it.
• Excessive Wear
  LEASING: Most leases limit wear to the vehicle during the lease term. You will likely have to pay extra charges for exceeding those limits if you return the vehicle.
  BUYING: There are no limits or charges for excessive wear to the vehicle, but excessive wear will lower the vehicle’s trade-in or resale value.
• Mileage
  LEASING: Most leases limit the number of miles you may drive (often 12,000-15,000 per year). You can negotiate a higher mileage limit and pay a higher monthly payment. You will likely have to pay charges for exceeding those limits if you return the vehicle.
  BUYING: You may drive as many miles as you want, but higher mileage will lower the vehicle’s trade-in or resale value.
• End of Term
  LEASING: At the end of the lease (typically 2-4 years), you may have a new payment either to finance the purchase of the existing vehicle or to lease another vehicle.
  BUYING: At the end of the loan term (typically 4-6 years), you have no further loan payments.

Either leasing or buying a car or vehicle have their own pros and cons. You should consider your usage of the car, your financial factor and others when leasing or buying a car. Source: Federal Reserve Board

This advertisement is only in one take and does not have any cut and paste. Click play and enjoy the commercial.

But not all credit counseling organizations provide these services. Some charge high fees, not all of which are disclosed, or urge you to make “voluntary” contributions that can cause you to fall deeper into debt. Many claim that a debt management plan is your only option before they spend time reviewing your financial situation, and offer little or no consumer education and counseling. Others misrepresent their nonprofit status or fraudulently obtained nonprofit status by misrepresenting their business practices to regulators.

The Federal Trade Commission (FTC), the nation’s consumer protection agency, and some state Attorneys General have sued several companies that called themselves credit counseling organizations. The FTC and the states said these companies deceived consumers about the cost, nature, and benefits of the services they offered; some companies even lied about their nonprofit status. Several of these companies are now going out of business. Similar companies also may be shutting their doors, even though they haven’t been sued by the FTC or the states. That could be of special concern if you have a debt management plan with one of these companies.

Must-Dos for Anyone With A DMP

Organizations that advertise credit counseling often arrange for consumers to pay debts through a debt management plan (DMP). In a DMP, you deposit money each month with a credit counseling organization. The organization uses these deposits to pay your credit card bills, student loans, medical bills, or other unsecured debts according to a payment schedule they’ve worked out with you and your creditors. Creditors may agree to lower interest rates or waive certain fees if you are repaying through a DMP.

The FTC has found that some organizations that offer DMPs have deceived and defrauded consumers, and recommends that consumers check their bills to make sure that the organization fulfills its promises. If you are paying through a DMP, contact your creditors and confirm that they have accepted the proposed plan before you send any payments to the organization handling your DMP. Once the creditors have accepted the DMP, it is important to:

• make regular, timely payments.
• always read your monthly statements promptly to make sure your creditors are getting paid according to your plan.
• contact the organization responsible for your DMP if you will be unable to make a scheduled payment, or if you discover that creditors are not being paid.

You need to be aware that if payments to your DMP and creditors are not made on time, you could lose the progress you’ve made on paying down your debt, or the benefits of being in a DMP, including lower interest rates and fee waivers. Although creditors may have forgiven late payments that you made before you began the DMP, the creditors may be unwilling or unable to do so if payments are late after you have enrolled in a DMP. If you fall behind on your payments, you may not be able to have your accounts “re-aged” again (reported as current), even if you start a new DMP with a new counselor. That means your credit report will have “late” marks and you will rack up late fees, which, in turn, will lead to more debt that could take longer to pay off.

If Your Credit Counselor Has Gone Out of Business

What happens to your DMP if the credit counseling company that managed your debts shuts down? A counseling agency that is going out of business may send you a notice telling you that your DMP is being transferred to another company. Or it may tell you that you need to take some action to keep your financial recovery on track. If a government agency has filed an action against your credit counseling company, you may get a notice from a third party. If you discover that the organization handling your DMP is going out of business you need to:

• contact your bank to stop payment if you are making your DMP payments through automatic withdrawal.
• start paying your bills directly to your creditors.
• notify your creditors that the organization handling your DMP is going out of business. Consider working out a payment plan with your creditors yourself. Ask if they will give you a reduction on your interest rate without a DMP.
• order a copy of your credit report. Check for late payments – or missed DMP payments – that may result from the company going out of business. If you see “late” notations you don’t expect, call the creditor immediately and ask that the notation be removed. Understand that they have no obligation to do it.

If payments are late because the organization handling your DMP has failed to make scheduled payments, the consequences can be just as devastating as if you failed to make payments to the DMP. If you do not act quickly to make arrangements with your creditors, you could incur late charges that increase your debt, lose the lower interest rates associated with the DMP, and have “late” marks on your credit report.

1. What services do you offer?
   Look for an organization that offers a range of services, including budget counseling, savings and debt management classes, and counselors who are trained and certified in consumer credit, money and debt management, and budgeting. Counselors should discuss your entire financial situation with you, and help you develop a personalized plan to solve your money problems now and avoid others in the future. An initial counseling session typically lasts an hour, with an offer of follow-up sessions. Avoid organizations that push a debt management plan as your only option before they spend a significant amount of time analyzing your financial situation. DMPs are not for everyone. You should sign up for a DMP only after a certified credit counselor has spent time thoroughly reviewing your financial situation, and has offered you customized advice on managing your money.

   If you were on a DMP with an organization that closed down, ask any credit counselor that you are considering what they can do to help you retain the benefits of your DMP.

2. Do you offer free information?
   Avoid organizations that charge for information about the nature of their services.
3. Will I have a formal written agreement or contract with you?
   Don’t commit to participate in a DMP over the telephone. Get all verbal promises in writing. Read all documents carefully before you sign them. If you are told you need to act immediately, consider finding another organization.
4. Are you licensed to offer your services in my state?
   Many states require that an organization register or obtain a license before offering credit counseling, debt management plans, and similar services. Do not hire an organization that has not fulfilled the requirements for your state.
5. What are the qualifications of your counselors? Are they accredited or certified by an outside organization? If so, which one? If not, how are they trained?
   Try to use an organization whose counselors are trained by an outside organization that is not affiliated with creditors.
6. What are your fees? Are there set-up and/or monthly fees?
   Get a detailed price quote in writing, and specifically ask whether all the fees are covered in the quote. If you’re concerned that you cannot afford to pay your fees, ask if the organization waives or reduces fees when providing counseling to consumers in your circumstances. If an organization won’t help you because you can’t afford to pay, look elsewhere for help.
7. Have other consumers been satisfied with the service that they received?
   Once you’ve identified credit counseling organizations that suit your needs, check them out with your state Attorney General, local consumer protection agency, and Better Business Bureau. These organizations can tell you if consumers have filed complaints about them. The absence of complaints doesn’t guarantee legitimacy, but complaints from other consumers may alert you to problems.
8. What do you do to keep personal information about your clients (for example, name, address, phone number, and financial information) confidential and secure?
   Credit counseling organizations handle your most sensitive financial information. The organization should have safeguards in place to protect the privacy of this information and prevent misuse.
9. How are your employees paid? Are the employees or the organization paid more if I sign up for certain services, pay a fee, or make a contribution to your organization?
   Employees who are counseling you to purchase certain services may receive a commission if you choose to sign up for those services. Many credit counseling organizations receive additional compensation from creditors if you enroll in a DMP. If the organization will not disclose what compensation it receives from creditors, or how employees are compensated, go elsewhere for help.

• Before shopping for a car, think about your driving habits, your needs, and your budget;
• If you finance the cost of the car, consider how much you can put down, your monthly payment, the length of the loan, and the annual percentage rate. Make sure you understand all aspects of the loan agreement before you sign any documents, including the exact price; the amount you’re financing; the finance charge; and the total sales price;
• Learn about car models, options, and prices by reading newspaper ads, both display and classified;
• The Federal Trade Commission requires dealers to post a Buyers Guide in every used car they offer for sale. Private sellers don’t have to use the Buyers Guide. The Guide tells you: – whether the vehicle is sold “as is” or with a warranty;
  - percentage of the repair costs a dealer will pay under the warranty;
  - that spoken promises are difficult to enforce;
  - to get all promises in writing;
  - to keep the Buyers Guide for reference after the sale;
  - the major mechanical and electrical systems on the car, including some of the major problems you should look out for;
  - and to ask to have the car inspected by an independent mechanic before you buy;
• Examine the car using an inspection checklist. You can find these on Internet sites that deal with used cars;
• Ask for the car’s maintenance record from the owner, dealer, or repair shop;
• Test drive the car under varied road conditions – on hills, highways, and in stop-and-go traffic;
• Talk to the previous owner, especially if the present owner is unfamiliar with the car’s history
• Hire a mechanic to inspect the car for mechanical soundness as well as safety;

Why Give Allowances To My Children?

An allowance can be a good teacher because it allows children to manage money in a safe environment. The sum involved is small and any mistakes made will not be too damaging. It is not like when they are adults and the mistakes made can cause them to lose their house or car.

Allowances can teach them financial responsibility. For example, when your child wants to buy a new toy, she can be asked to save part of her pocket money to get it.
Depending on the age of your child, she may need help to achieve her goal (i.e.,the toy). This gives you an opportunity to help her develop a spending and savings plan so that she will know how much and how long she has to save to buy her toy.

Saving for a toy will teach your child about delayed gratification. A child who has enjoyed the fruits of saving up for a toy may be less likely to be taken in later by the various choices of instant gratification like credit cards, easy payments and hire-purchase payments.

Thus allowances give children a chance to make mistakes that are not too costly, to think about the value of what they want, to experience anticipation if they save for a few weeks and even to feel the consequences of overspending.

Do not make a practice of giving additional money if your child overspends. If parents is quickly to bail out the child, the child will not learn the consequences of overspending.

Should your child overspend, she will then have to get a loan from you to meet her expenses. Set up a repayment period to give her some practical experience in using credit.

But if your child keeps overspending it should be time to put her on a simple budget.

How Soon Should I Give Them Allowances?

Your child probably ready for an allowance when she enters primary school. She should be old enough to handle money to buy food at the school canteen.

How Much Allowances Should I Give To My Children?

How much money your child is entitled to will depend on how much you can afford and how much food in the canteen costs. You may also want to have an idea of how much pocket money her classmates are getting.

Parents and child should agree on just what the pocket money is supposed to be spent on. Even if it is only to be spent on food in the canteen, give a little above so that your child can practice decision-making.

As adults, we make spending choices and not all of our choices turn out to be the right ones. Learning to live with the results of poor choice in spending money is a valuable lesson, so let children make mistakes and learn from their mistakes.

How Often Should I Give My Children Allowances?

At the very beginning the pocket money can be paid daily since your child is young and is not used to handling money. But as your child grows up the allowance can be paid weekly and when she reaches her late teens it can be paid monthly.

The longer your child has to wait for the next payment of pocket money, the more she has to practice her budgeting skills.

This situation obviously shows the practice of having insurance still new due to no education and awareness of its importance of being protected by insurance package. Let alone the living environment in this era which offers challenges whether from the economy, security and health aspect.

For some peoples, insurance is perceived as burden. This is because they are forced to allocate a portion of their salary to pay premium, whereas its return and benefit is not known when it can be taste. When some incident or disaster happens, it is then when the insurance policy interest and importance can be benefited.

‘Money saving’ factor always become a reason to refuse having an insurance policy. For some people, the premium payment which is in average as low as $80, $150 or $300 per month is perceived as burden. This form a mentality in society which often avoids each time they are visited by an insurance agent.

Men which become the hope of their family and as a chief are the key individuals who need to be protected by insurance. It is a gamble of his life and put the bad luck on the man’s shoulder solely, but it is in fact a long term protection and effect which will be enjoyed by them in their hard time.

In overall the society is still not yet exposed to the benefits of having an insurance policy. Men which become the head of the family do not see their interest need to be protected. This indirectly put the fate and future of their family and beloved ones in risks.

Imagine should a man, who is unprotected by insurance and involved in an accident, does just the hospital treatment is enough for him whereas he could affords to receive further treatment in a private hospital and received financial assistance incentive during the treatment period.

Personally, how you see the importance of having insurance?

Along six years my participation in insurance world, clearly I would say that the society tendency especially Malays to own insurance is still low.

I can say that 90 percent of Bumiputras people in Malaysia are not yet protected by insurance. Whereas, the insurance itself give sufficiently large advantages to individual and family at now and future. Not only it gives protection medically and in term of life, insurance scope is far bigger; as a fund to oneself in his old time later.

In your opinion, what causes people to not want having insurance policy?

This returns to the society’s culture of upbringing itself. If we see Malay community as example, culture of saving itself is not a habit. Let alone on insurance ownership in Malay families household.

Somehow this is different in the Chinese community. They make culture of saving and habit of having insurance policy since their children are still small.

So what is the real cause that cause people refused to have insurance?

The main cause is the financial factor. Let alone the effect of the world economy which indirectly gives great influence to the society’s daily expenditure. This is felt more by men which became the head of his family and moreover if his wife is not working and bringing up children in the city area. It is acknowledged, it is difficult for men to bear the living cost in town and at the same time have insurance.

Is there still opportunity for this group to have insurance?

I did not say no. It returns to the awareness factor itself. If men as a family leader realize his importance as the future pillar for himself and his family, insurance is the best answer in ensuring his family’s fate guaranteed. Imagine when one is not protected, what would happen to his fate and family in the future?

How to evaluate a person’s ability to have insurance?

Usually, as insurance representative we will evaluate the total monthly income owned by individual and inflow and outflow of his finance. A good insurance package usually includes 10 percent of monthly total income amount. This package is subjected to protection scheme is whether it is wanted as a saving, medical or both like often done by policy owner.

How can we get to know the advantages of an insurance package?

It is important for every of us to know the insurance package that being offered. Investigate insurance company background and the advantages that would be enjoyed from the investments that we are doing. Do not ever falls for cheap offer and package which offers insurance without knowing further details and claims which can be made later on.

Back to people perception, how to ward off community’s negative perception on insurance policy ownership?

Once upon, when talking on insurance people will see as a death protection. Peoples are not interested to talk about deaths. This story was 10 years ago where insurance package converge a lot to life insurance plan which gives compensation to family member if policy owner passed away.

Currently, many packages enjoyed by policy owner such as change help, emergency, saving package for old age and so on.

What will be enjoyed if one owns an insurance policy?

Not only are his interests protected, insurance owner usually given a medical card that qualify him to receive treatment incentive in registered private panel hospitals. He or she only needs to show the insurance medical card, the patient is eligible to get specialist treatment compared to those who do not own insurance.

Not that only, during hospitalize, the policy owner is also paid. Isn’t that attractive?

How is the flow of ownership of insurance policies during five years lately?

I can say that, within these five years the number are increasing among the societies especially in Malay society and those who reside in town choose to have insurance. This awareness is increasingly expand as they are thing the long term effect and to seek the best protection for themselves and family.

If we look to government hospital nowadays also provides specialist treatment where it impose high payment rate to patient who need treatment. Because of that we should think of the importance of owning an insurance policy.

In your opinion, how to change community’s perception on advantages of owning insurance policy?

It should be taught since small and starting from school level. It also becomes insurance representative’s responsibility to approach society to ensure that they understand and become aware of the importance owning insurance policy in the quite challenging environment today.

Who own more insurance policies, men or women? What factor contributes to the figure?

According to source that we believe, it is undeniable men have more insurance policies compared to women. It may be caused by awareness and men’s role factor as the head of family and bigger responsibility causing them to choose to own insurance policies.

How one man as family’s head can protect his family with insurance?

He still can own insurance through family insurance plan where each of his family members is protected. But this plan does not include medical coverage like in personal insurance.

Health care fraud is not just about losing money, it can make you sick or hurt you. From unsafe drugs sold on the Internet as a “cure” for cancer, to wheelchair billing plots that try to bilk consumers and Medicare out of millions of dollars for unneeded or improper equipment, health care fraud is everyone’s concern!

Health care fraud, errors and abuse costs the US between $80 and $160 billion a year. $1 of every $10 spent on public insurance programs like Medicare and Medicaid is lost to fraud. Health care fraud causes big financial problems for you as well- the most recent estimate is that consumers themselves lose more than $10 billion each year to health care fraud.

Don’t Be a Victim!

Consumers like you play a big role in the fight against health care fraud by reporting errors and possible fraud. Law enforcement is important, but the best protection comes from preventing people from being cheated in the first place. There are 12 simple steps you can take to protect yourself and your family.

Take Action– post the 12 Tips to Protect Yourself on your refrigerator and use them as a daily checklist to make sure you are keeping your personal information and health safe.

12 Tips to Protect Yourself from Health Care Fraud

1. Only visit your personal doctor, hospital or clinic for medical help. Only they should make referrals for special equipment, services or medicine.
2. Never show anyone your medical or prescription records without first talking to your doctor or pharmacist.
3. If someone calls and tries to threaten or pressure you into something – simply hang up the phone.
4. If someone comes to your door and says they are from Medicare or some other health care company shut the door…It’s shrewd to be rude!
5. Do your homework and talk to your health care provider before buying or investing in internet “cure-all” or “miracle” products or services.
6. Don’t keep mail in your mailbox for more than one day. People steal personal information right out of your mailbox.
7. Rip up or shred your Medicare or other health care papers and other important documents before throwing them away. Crooks go through the trash!
8. Treat your Medicare & Social Security numbers like credit cards. If someone offers to buy your Medicare or social security number, don’t do it…it’s simply not worth it.
9. Remember that “Medicare” doesn’t sell anything.
10. Follow your instincts—if it seems too good to be true, it usually is!
11. If you suspect an error, fraud or abuse related to health care, gather the facts and report it.
12. ALWAYS read your Medicare Summary Notice (MSN) or health care billing statement. Your Medicare Summary Notice is the piece of mail stamped “This is Not a Bill” that comes in after you get medical care. Look for three things on your billing statement:
    • Charges for something you didn’t get
    • Billing for the same thing twice
    • Services that were not ordered by the Doctor

Everyone pays the price for health care fraud, errors and abuse, through higher insurance payments, increased costs for medical services and equipment, and greater expenses for Medicare and Medicaid. But more importantly, lives are at stake.
Source: The National Consumer Protection Technical Resource Center

• As a preparation if struck by a disaster, we do not know when an accident will occur.
• Having insurance while still young and healthy can give higher returns when the insurance has matured.
• As a future savings for a source after pensioning.
• Increasingly higher cost for learning. For example, my child should possess insurance to ease our burden later.
• As an inheritance to my child and heir if I died as a consequence of a disaster.
• Health insurance is needed to accommodate the medical cost and treatment if I am hospitalized.

A lot of benefits when owning insurance. It is not a gamble of life but as a preparation to face the uncertainty.

Setting Good Examples

Action speak louder than words in forming the child’s attitude toward money. Children can spot inconsistencies when parents say one thing and do another. Therefore parents should examine their own money attitude and practices.

This would, for example, mean not being overwhelmed by debts or not being a walking advertisement for branded goods.

This situation obviously shows the practice of having insurance still new due to lack of education and awareness of its importance of being protected by an insurance package. Let alone the living environment in this era which offers challenges whether from the economy, security and health aspect.

For some peoples, insurance is perceived as burden. This is because they are forced to allocate a portion of their salary to pay premium, whereas its return and benefit is not known when it can be taste. When some incident or disaster happens, it is then when the insurance policy interest and importance can be benefited.

The Money Saving Factor

‘Money saving’ or ‘money keeping’ factor always become a reason to refuse having an insurance policy. For some people, the premium payment which is in average as low as $80, $150 or $300 per month is perceived as burden. This form a mentality in society which often avoids each time they are visited by an insurance agent.

Men which become the hope of their family and as a chief are the key individuals who need to be protected by insurance. It is a gamble of his life and put the bad luck on the man’s shoulder solely, but it is in fact a long term protection and effect which will be enjoyed by them in their hard time.

In overall the society is still not yet exposed to the benefits of having an insurance policy. Men which become the head of the family do not see their interest need to be protected. This indirectly put the fate and future of their family and beloved ones in risks.

Imagine should a man, who is unprotected by insurance and involved in an accident, does just the hospital treatment is enough for him whereas he could affords to receive further treatment in a private hospital and received financial assistance incentive during the treatment period.

In the case of being an owner of a vehicle, shop around for a good policy and a good tip is to purchase more coverage than required to cover for a variety problems. Some examples of policies include:

Liability

This coverage pays for accidental bodily injury and property damages to others. Injury damages include medical expenses, pain and suffering and lost wages. Property damage includes damaged property and automobiles.

This coverage also pays defense and court costs. The law determines how much liability coverage you must purchase, but you can always get more coverage than required.

Collision

This coverage pays for damages to your vehicle caused by collision with another vehicle or object.

Comprehensive

This coverage pays for loss or damage to the insured vehicle that doesn’t occur in an auto accident. The types of damages comprehensive insurance covers include loss caused by fire, wind, hail, flood, vandalism or theft.

Medical Coverage

Pays medical expenses regardless of fault when the expenses are caused by an auto accident.

PIP

Personal Injury Protection (PIP) pays medical expenses for the insured driver, regardless of fault, for treatment due to an auto accident.

Uninsured Motorist

Pays your car’s damages when an auto accident is caused by a driver who doesn’t have liability insurance.

Underinsured Motorist

Pays your car’s damages when an auto accident is caused by someone who has insufficient liability insurance.

Rental Reimbursement

This type of coverage will pay for a rental car if your car is damaged due to an auto accident. Often this coverage has a daily allowance for a rental car.

Factors That Affect the Pricing of the Auto Insurance

Now that you know more about the various policies available, it’s also essential to know what type of factors affect the pricing of the auto insurance such as:

Drive ‘Safe’ Car

The first thing that affects your policy price would be what kind of car you drive. For instance, a sports car will definitely be more expensive to insure compared to a family car. Also, if your car is a popular target with thieves, chances are that your coverage will be more expensive.

Neighborhood and Mileage Counts

Another factor is where you reside. If you reside in an area which is crime ridden, your policy will be a more expensive one. Drivers who clock up long distance in driving will also pay more than those who live nearby their work places.

Depends on Your Profile

The final factor is that the price depends on yourself. Your age, your gender, marital status and driving records are all taken into account for. Accident rates are higher for drivers under the age of 25 years old, so if you are young, expect to pay a wee bit more.

With that in mind, have fun researching on various policy packages offered by insurance packages to find out the policy that suits your profile!

Children who learn good money management skills will be better chance of becoming adults who can make sound financial decisions and not getting into money trouble.

However, teaching children about the value of money is more difficult in today’s increasingly cashless society since they do not always see money being paid immediately for the purchase of goods and services. And yet because we live in society where credit is so easily available that the ability to manage money is even more important.

But since good financial skills are taught at school, it is up to parents to develop such skill in their children. But when does one should start teaching children about money?

Examine Your Auto Insurance Policy – A few changes in the auto insurance coverage can save hundreds of dollars in the insurance premium.

Increase The Insurance Deductible – Deductible is the amount of money have to be paid before an insurance company pays a claim. Raising it can save hundreds of dollars per year of the car insurance.

Install a Security System – Most insurance companies will give discount if security system is installed to the car.

Decrease Your Mileage – The auto insurance that have to be paid is directly proportional to the number of miles you drive. So cut down your mileage, try car pooling or walking sometime.

Shop Online for Cheap Auto Insurance – Try to compare them online.

Financial planner / investment advisor now had already licensed by Securities Commission and is been under Securities Industry Act 1983 (Section 14).

The matter had already being enforced since 31st of August 2004. Is it by the proclamation by Bank Negara to gazette financial planners under its jurisdiction will develop the newly introduced and young industry in Malaysia?

Is it the works done by the Securities Commission are unsatisfactory? Or is there any power struggle in enforcement happens?

Financial planning is one the most important knowledge and industry in life. Malaysians basically still never have been given enough exposure on this matter.

Insurance vs Financial Planning

Recognizing insurance as financial planning is not a precise thing. Insurance is one of the tools to financial planning but it is not financial planning.

There are seven key aspect in financial planning which covers business (cash flow), banking, property, stock/equity, insurance, tax and estate legacy (estate planning).

What is insurance actually? Insurance is a way of risk transfer so that losses are not fully bear by its policy holder. This is the insurance basic.

Insurance categorized into four types namely life insurance, health and inability insurance, general insurance and trade insurance. And the newest it is associated with investment.

However insurance is never have been fully made as only way of financial planning before except by insurance sellers (agent) who undeniably want one thing which is it high commissions.

The public should be made fully known about the total commission paid to insurance agents. Transparency factor should be made as an obligation condition to every insurance agent and financial planner.

The monthly installments (premium) paid to the insurers by his policy holder in fact is 55 percent (of the amount for the first two years) is used for commission payment. By other words, actual cost of a life insurance policy has been shared by the sales representative assigned to sell the insurance product.

Financial planner is not a product seller. As a financial planner his objective is to make a starting plan for the customer. Customer interest is their priority.

Each financial planner dictionary said that purchase of insurance is only to shift the risk of death and accident. It is not for investing.

Why should you buy an insurance?

Why should buy a life insurance if its return is estimated at around three to four percent only? An investment should give more returns than that. Therefore, it would be vital that this matter is explained to the general whether they want a risk transfer or want a return of investment / profit.

Even though, risk transfer through insurance is also very important. The matter should be explained clearly. For example, treatment in hospital will not cost cheaply. Therefore an insurance purchase is something which is needed.

Promotion of Financial Planning

Financial planning industry need better promotion and infrastructure than what there are today. Addition of guardian or lawmakers will be inconvenienced for this industry to grow.

In the United States for example where this financial planning knowledge is origin, there is no one rule except the monitoring of professional bodies association on it. They prefer openness principle (transparency).

All charges, products and implementation plan are explained fully to every customer. Public are convinced and know that there no hoarding or deviation can be done by certain parties.

Too much law complicates the growth of idea and creativity which is a necessity in this industry. It is true indeed, law is needed to control some irresponsible parties from manipulating the condition but this industry need many more Malaysians to understand and involve their self in it.

With many numbers of financial advisors and its knowledge is expanded to every level of society, parties which are irresponsible of course will not be able take advantage on it.

If seriously integrated efforts are carried out it is not difficult and be possible for at least this financial planning knowledge to spread to all level of society.

This matter is more important that having two enforcement authorities which could confuse people and investors especially in the financial industry of Malaysia.

Whatever your definition of the good life though, money plays an important part in it. However, there are many people who believe that the good life is possible only with the 5 Cs – credit card, condominium, car, cash and club membership. This definition of the good life is not only very materialistic, it is also incorrect.

There are those who end up being miserable because they went heavily into debt to obtain the 5 Cs.

Getting into debt and being unable to get out of it, is one of life’s greatest traumas. Why? Because it can lead to you losing your property, your reputation, peace of mind and a happy family life.

One of the reasons that people often get into debt is because they feel they have to follow what they see as ‘cultural’ requirements. Although they cannot afford it, they spend their savings and borrow huge sums to celebrate their children wedding or to spend during festivals like Christmas, Eidul Fitr, Chinese New Year and Deepavali. Spending too much on such occasions is really unnecessary. There is no need to impress friends and relatives this way.

Another problem is that people feel that they have to own the goods and gadgets associated with ‘modern living’ even though they may not be able to afford them yet.

Social vices may also lead many people down the path of debt. They get addicted to alcohol, smoking, gambling or drugs.

Not surprisingly the debt trap can also lead to breakdown in family relationships. How many parents have had to disown their children to avoid being harassed by illegal money lenders who want repayment for loans taken by their children?

The good life is therefore only possible when you, not the banks, are in control of your life. You cannot be said to be in control when you being chased for payments for the car or credit card purchases.

The debt trap can be a vicious circle from which it is very difficult to break away. With the money going off to pay the debts, there will be no savings for the future and you may find yourself working harder but not getting anywhere.

Your child should therefore be taught to manage her money wisely so that she can save and invest for the future. To encourage her to save, make sure that she puts aside a certain sum of money every month upon receiving her allowance. Save first, then spend, instead of spending and saving whatever left over. There may not be any left over.

The good life is of course much more that being about money but money undeniably plays a significant role, for without it we cannot survive.

An important lesson to impart to our children is that to enjoy the good life we have, to be in control of our life and that comes when we are in control of our money.

RON stands for Research Octane Number. Octane number or octane rating refers to the gasoline ability to withstand auto ignition (knocking) inside the engine. Higher octane number refers to higher ability of the oil to fight auto ignition. In other words, it means that RON95 is harder to ignite compared to RON92.

Different vehicles are designed to be use with different octane number of oil. Higher octane number oil is basically designed for high performance vehicles such as sport vehicle and racing vehicle. Why is that so? This is to avoid premature ignition of oil inside the engine because of auto ignition, which happens before the spark plug ignite the fuel. This phenomenon is known as knocking. Knocking is not wanted because it reduces the performance of vehicle.

The right usage of octane number based on design and adjustment of engine will maximize the performance and effectiveness of the vehicle. Modern vehicles are equipped with knock sensor which enables it to adjust its combustion timing automatically according to the oil octane number to avoid knocking or premature ignition of oil.

Not all vehicles require high octane number petrol. You can check your vehicle fuel requirement inside the guide book of your vehicle or you can simply check the minimum Octane Rating at the back of the fuel lid cover of your vehicle. Most cars can still use RON92.

Higher RON number does not means that it is more powerful. It means that it is harder to ignite. It is also cost you more.

Adjusters want to settle cheap, quick settlements are not always best, a computer may decide your compensation, and people with lawyers get bigger settlements.

The insurance company base their decision on whether to accept or reject your proposal and what terms to impose on the information you provide in the Proposal Form.

As the information given is crucial to your Insurers, you have a Duty of Disclosure to provide all facts material to the insurance. Please read the “Important Notice” appearing on the Proposal Form.

You are required to sign a declaration that the information that you provide is the truth and that it shall form the basis of the contract.

What Should You Do When Filling an Auto Insurance Proposal Form?

When filling an Auto Insurance Proposal Form, you must state all facts material that you know. These facts material will affect insurance company whether they will receive or reject your proposal or charge you additional fee. In Life Insurance, facts on your health and occupation are facts material.

What happens if insurance agent makes mistakes or fills untrue information?

Even if the matter occurred not caused by your mistake, Insurance Company may refuse the contract. Due to this, you should always read what is written or fill meticulously before signing the auto insurance proposal form.

What is a Cover Note?

After you pay premium, an agent will issue a cover note as a temporary protection before the insurance company decide whether to cancel or receive proposal you. It will expire after that note ending date or when your proposal is rejected or when a policy is issued by the insurance company.

Make sure you get one cover note copy with complete information of everything on auto insurance coverage such as sum insured, premium, excess and protection period after paying the premium to an insurance agent.

Contact your insurance company if you do not receive your insurance policy after 30 day.

What should you do when considering buying a policy?

1. Always read and understand the policy terms and proviso.

2. Do not buy an insurance policy only because the push from insurance agent. Do only when you know the policy and if you need it. However, under law, you must own an auto insurance.

3. When you have your policy you must always pay the premium payments specified.

4. If you take too many policies, the insurance company probably will doubt it and they may cancel your policy.

What should you do if you involved in an accident

Make a report to police in 24 hours time on the accident.

Notify your insurance company in writing as soon as possible all the details about damages or losses which occurred by including the police report. The reasonable time period to report to the insurers is within 14 days. However, for cases which involves limb injury; where a policy holder is hospitalized due to accident, they should report to insurance company once being able to do so. If there is any case, other party charge you and you accept a summons to court, do not plead guilty but notify the matter to your insurance company. If you do not do so, the insurance company may never be responsible in defending your interest when there are claims on you or claims for the damages of others vehicle.

Final question on yourself

Do you own an auto insurance policy or life insurance policy? Have you read the terms and conditions of the policy? Do you know that you are tied down to various terms and conditions?